Spark Investment Management LLC Has $332,000 Stake in Arrow Financial Corporation (AROW)
Spark Investment Management LLC held its position in Arrow Financial Corporation (NASDAQ:AROW) during the second quarter, Holdings Channel reports. The institutional investor owned 10,500 shares of the financial services provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Arrow Financial Corporation were worth $332,000 as of its most recent SEC filing.
Arrow Financial Corporation (AROW) opened at 32.60 on Tuesday. The firm has a market capitalization of $440.39 million, a PE ratio of 16.22 and a beta of 0.64. The stock has a 50 day moving average price of $31.93 and a 200-day moving average price of $33.40. Arrow Financial Corporation has a 12-month low of $30.56 and a 12-month high of $41.70.
Arrow Financial Corporation (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Arrow Financial Corporation had a return on equity of 11.58% and a net margin of 25.28%. The company had revenue of $26.28 million during the quarter. On average, equities research analysts forecast that Arrow Financial Corporation will post $2.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.07%. Arrow Financial Corporation’s dividend payout ratio (DPR) is presently 49.75%.
Separately, BidaskClub raised Arrow Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th.
In other news, Chairman Thomas L. Hoy sold 1,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $32.75, for a total transaction of $32,750.00. Following the completion of the sale, the chairman now owns 170,934 shares in the company, valued at approximately $5,598,088.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.63% of the stock is currently owned by corporate insiders.
Arrow Financial Corporation Company Profile
Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its two banks.
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